calculating amount of capital paid

geordiescouse

Hi

Brain teaser for first thing in the morning.....

If I pay a 170000 mortgage over 15 years on a 2 year fixed rate of 3.99% with payments of £1256 per month how much capital would I have paid off at the end of the first two years? Is there a mortgage calculator to help with this sort of thing? I can only paid overpayment calculators when searching the web.

Thanks for your help in advance, if only I'd paid more attention in the maths class I may remember the formulas!

beecher

http://forums.moneysavingexpert.com/showthread.html?t=1157173&highlight=locoblade

should help you

dimbo61

You could also try " whatsthecost"
You would pay £1256 a month and after 2 years you would still owe £152,757
and have paid off £17,243.

Robert_Sterling_3

geordiescouse wrote: »

if only I'd paid more attention in the maths class I may remember the formulas!

If only you understood the excel spreadsheet you could do it yourself.